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Property profile & analytics
OFF-MARKET
Estimated value
$1,275,000
Grocery and convenience stores
2906 Madison St Riverside, CA 92504-4445
Entity Owned
4-yr Hold
Free & Clear
Property ID
US09-2038834
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1972
Construction
WOOD
Total area
2,584 SF
Lot
0.32 ac (13,939 SF)
Zoning code
R3
APN
230-284-001
UPID
US09-2038834
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Los Altos Meat Market Food Market Farmer's Market
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.36M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.31M
Blend (final)
Blend
$1.28M
Owner & transaction history
Miranda Family Holdings LLC · 4 yrs held
Miranda Family Holdings LLC
since 2022
Last sale
$1.2M
6 recorded transactions
Zoning & alternative use
R3 · Riverside, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+24.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Riverside submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Riverside submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,605,000
ML approach
$1,355,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$920,000
Current use
AUTO REPAIR, GARAGE
$1,145,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$1.28M
Range $1.15M – $1.40M · ±10% · vs last sale $1.22M (Jun 30 2022)
Last sale anchor
$1.22M
Jun 30 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$493 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$13,996
Tax year 2024
Assessed value
$1,269,288
Assessed 2024
Previous assessed
$1,269,288
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$291,312
Assessed improvement
$977,976
Applied tax rate
9.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1972
Construction
WOOD
Heating
NONE
Stories
1
Total area
2,584 SF
Lot
0.32 ac (13,939 SF)
Zoning code
R3
APN
230-284-001
UPID
US09-2038834
Jurisdiction
RIVERSIDE
Zoning & alternative use
R3 · Riverside, CA
Zoning R3 · permitted uses
R3 · Riverside, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Riverside. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$920,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES Current
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1972
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Miranda Family Holdings LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2906 MADISON ST, RIVERSIDE, CA 92504-4445
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2022
$1,220,000
Miranda Family Holdings LLC
Byong I Choung
Grant Deed
—
Sep 12, 1997
$42,500
Byong I Choung
Us Small Business Admn
Grant Deed
—
Sep 18, 1996
$154,837
Us Small Business Admn
Joh,chris S & Sarah K
Trustees Deed
—
Feb 5, 1996
$165,000
Hanmi Bank
Joh,chris S & Sarah K
Trustees Deed
related
—
Nov 1, 1990
$335,000
Chris S Joh
Kim Su H
Grant Deed
$395,000 · Hanmi Bank
Feb 1, 1988
$255,000
Su H Kim
Yoon
Grant Deed
$310,000 · Pacific Inland Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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